Press release
SIGA Announces BARDA Exercise of Contract Options Valued at $101.3 Million for the Procurement of Oral TPOXX®
Deliveries to Maintain National Security Expected to Start in Second Quarter 2020 NEW YORK, April 29, 2020 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc. (SIGA)
About this update from Siga Technologies Inc.
[{"type":"text","content":"Deliveries to Maintain National Security \n Expected to Start in Second Quarter 2020 NEW YORK, April 29, 2020 (GLOBE NEWSWIRE) -- SIGA Technologies, Inc. (SIGA) (NASDAQ: SIGA), a commercial-stage pharmaceutical company focused on the health security market, today announced the exercise of options under its 2018 Biomedical Advanced Research and Development Authority (BARDA) contract (“19C BARDA Contract”) worth a total of approximately $101.3 million for the procurement of oral TPOXX for the treatment of smallpox (tecovirimat). Deliveries of oral TPOXX to maintain national preparedness under these option exercises are expected to start in the second quarter of 2020 and be completed by April 2021. With the above-mentioned exercise of options, all procurement options under CLIN 9 (contract line item number 9) of the 19C BARDA Contract have been exercised. SIGA’s full 19C BARDA Contract has up to $414 million of procurement-related options remaining for future exercise. “The intent of the Request for Proposal for this BARDA Contract was to maintain the existing stockpile of TPOXX and the exercise of these options is an important step toward ensuring that the U.S. Government can effectively meet this critical goal,” said Dr. Phil Gomez, CEO of SIGA Technologies. “The ongoing COVID-19 pandemic has dramatically underscored the importance of national preparedness. The exercise emphasizes the critical value of our smallpox anti-viral treatment in that effort, and underscores SIGA’s commitment to working with BARDA and the Office of the Assistant Secretary for Preparedness and Response (ASPR) to protect against the threat of a potential smallpox outbreak or bioterror attack.” ABOUT SIGA TECHNOLOGIES, INC. and TPOXX® SIGA Technologies, Inc. is a commercial-stage pharmaceutical company focused on the health security market. Health security comprises countermeasures for biological, chemical, radiological and nuclear attacks (biodefense market), vaccines and therapies for emerging infectious diseases, and health preparedness. Our lead product is TPOXX®, also known as tecovirimat and ST-246®, an orally administered and IV formulation antiviral drug for the treatment of human smallpox disease caused by variola virus. TPOXX is a novel small-molecule drug and the US maintains a stockpile of TPOXX in the Strategic National Stockpile under Project ...